Litigation

As expected the Treasury Panel presiding over yesterday's IRC 104(a)(2 hearing) pushed back interlopers Jack Meligan and Dick Risk by informing them them that the hearing WAS NOT the forum to argue IRC 468B single claimant qualified settlement funds.

Meligan argues that the National Structured Settlements Trade Association (NSSTA) doesn't represent all structured settlement consultants and I agree. However based on a lamely thought out strategy (punctuated by the plaintiff wail of "why did you remove single claimant 468B from the Priority Guidance Plan"?) one could also say that Meligan does not represent all those who have an interest in the resolution of questions conerning single claimant 468B qualified settlement funds. In 2003 the guns were partners at Skadden Arps with notable histories at Treasury or IRS.  In 2010 is the best there is "Mack Jeligan" and "Ick Disk"?

While assigning an appropriate nod to the right to free speech, given the easily forseeable outcome one can't help but view that the left wing front of the settlement industry was simply wasting tax payers' money and time during a period of economic crisis. John McCulloch of IFS Corp deserves a hand for showing that there are those in the industry who desire to keep things on point.

Jeremy Babener does a nice job of summarizing the "voices" at the 104(a)(2) hearing on Beyond Structured Settlements. Still not sure what Babener's gig is after he threw his QSF white paper into the IRC 104(a)(2) comments mx lead up to the hearing. Perhaps only he really knows.